Starvest PLC Update on Investee Company - Cora Gold Limited
26 Marzo 2019 - 9:30AM
RNS Non-Regulatory
TIDMSVE
Starvest PLC
26 March 2019
26 March 2019
Starvest Plc ("Starvest" or "the Company")
Update on Investee Company - Cora Gold Limited
Starvest PLC (LON:SVE), the London Stock Exchange AIM listed
specialist mining and resources investment business, is pleased to
announce an update for investee company Cora Gold Ltd (LON:CORA)
and its flagship Sanankoro gold project.
Highlights:
-- Drilling at Cora's Sanankoro project has returned intercepts
including 46m at 4.48g/t, 17m at 5.10g/t, 24m at 2.83g/t and 26m at
2.60g/t gold
-- Preliminary metallurgical test work results showed up to 97%
gold recovery by standard cyanide leach processes
-- Infill and step out drilling at the most prospective areas will continue through Q2 2019
-- Focus will be on the surface oxide material that is easy to mine and process
-- Cora continues to de-risk the project with a view to establishing a standalone operation
The announcement by Cora Gold Ltd ('Cora') can be found at;
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CORA/14011107.html
Callum Baxter, Chairman/CEO of Starvest commented, "Ongoing
drilling by Cora continues to deliver robust gold results from its
Sanankoro project. The shallow oxide potential is growing and
initial metallurgical results are positive. This is a pleasing
story and we look forward to following development of the
project."
Cora Gold Ltd - Overview
Cora Gold is an AIM listed gold exploration company holding
early stage exploration licenses in Southern and Western Mali, and
Eastern Senegal. Their portfolio covers nearly 1,500km(2) of
prospective ground across two of the most prolific gold belts in
the region, Yanfolila and Kenieba, which account for more than
65moz gold discovered over the last two decades.
Cora Gold has focused initial exploration activities on its
flagship Sanankoro project, extending identified zones of gold
mineralisation within a 14km long structural corridor yet to be
fully tested.
The geological setting and scale of gold anomalies suggest the
potential for a reasonable greenfield gold discovery at Sanankoro
with the management team aiming for an initial 1moz gold. SRK
Consulting have independently calculated an initial JORC compliant
exploration target of between 30-50mt of ore at an average grade of
1.0-1.3g/t for 1.0-2.0moz gold.
To date mineralisation has been delineated to a depth of 100m,
most of which is hosted within weathered material. Weathering
(oxidation) depth ranges from around 50m to in excess of 100m
across the exploration target area. The relatively soft oxidised
rock would potentially allow for low-cost surface mining and
milling.
Starvest will continue to closely follow the development of Cora
Gold and we look forward to further information from Cora's
on-going work at Sanankoro.
Starvest is a specialist mining and resource investment company
and has the industry knowledge and market exposure to select
compelling opportunities early in the investment cycle.
Callum N Baxter
Chairman & Chief Executive
26 March 2019
Enquiries to:
Starvest PLC
Callum Baxter or Gemma Cryan 02077 696 876 info@starvest.co.uk
Grant Thornton UK LLP (Nomad)
Colin Aaronson or Harrison Clarke 02073 835 100
SI Capital Ltd (Broker)
Nick Emerson or Alan Gunn 01483 413 500
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END
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